Dual effects of outward foreign direct investment on industrial green transformation:based on the bilateral stochastic frontier model
Industrial green transformation is an important condition for China to realize its new industrialization and a pivotal part for the country to become an industrial power.To further identify the new dynamics of industrial green transformation and clarify the effects of outward foreign direct investment(OFDI)on industrial green transformation and its leapfrogging tendency,this study constructed a bi-lateral stochastic frontier model to measure the spillover effect,crowding out effect,and net effect of OFDI on industrial green transfor-mation using panel data from 30 provinces from 2004 to 2020.Furthermore,the development trend of the net effect of OFDI on industri-al green transformation was predicted by combining with the Markov chain method.The results showed that:① OFDI had both spillover and crowding out effects on industrial green transformation.The spillover effect increased industrial green transformation by 31.472%,the crowding out effect decreased it by 11.739%,and the net effect increased it by 19.733%.② The spillover effect of OFDI on industri-al green transformation was dominant but heterogeneous in time and space.After excluding the effect of crowding out,the net effect showed an inverted U-shaped characteristic of rising and then falling during 2004-2020 and was the largest in the central region and the smallest in the eastern region.③ The adjustment of factor dependence from resource to technology played a collaborative adaptation role in the dual effects of OFDI on industrial green transformation.④ The net effect of OFDI on industrial green transformation was sta-ble,with a long-term growth tendency,but also with a risk of falling.Therefore,in the future,we should continue to expand the scale of OFDI,optimize the investment structure,promote cross-border scientific and technological cooperation,and help industrial green trans-formation by strengthening the spillover effect of OFDI and weakening the crowding out effect.
outward foreign direct investmentindustrial green transformationproduction factor dependencedual effectsleapfrog-ging tendency
万方数据
